Riyadh – The Saudi Capital Market Authority (CMA) gave the green light for National Metal Manufacturing and Casting Company (Maadaniyah) to reduce then increase its capital, according to a bourse filing on Tuesday.

Maadaniyah aims to decrease the capital to SAR 234 million that is distributed over 23.4 million shares, compared to SAR 281.12 million and 28.11 million shares prior to the cut.

The company will later raise the capital value through a rights issue worth SAR 120 million.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.